National Republican., 1887-05-23
General Incorporation Act Needed.

RICHMOND, Va, May Is, lSS7.-The NATIONAL
REPUBLICAN cannot dedicate itself to better
work than that of urging upon and pointing
out to members of the legislature of Virginia
the vital Importance OF enacting into law a
general incorporation act. The old state
stands almost, If not wholly, alone In clinging
to the antiquated system of granting special
charters for railroad companies. Forty years
ago the Empire slate had general
ss,es speeay 9Sowedh her exampe 'ns
cannot be claimed that any public interest Is
likely to be imperiled or impaired by such an
act The opposition to such measure Will
who are intrenched behind special charters,
which are to them a mOnopoly-shutting out
rival lines-and class OF persons who find their
subsistence or their profit In selling legislative
favors. good many enterprising gentlemen
are keenly aware that special charter to
build a railway is worth certain amount-in
fact, handsome amount-of ready cash,
beside liberal gift of full paid stock In the
should go into the peoples treasury, and not
into the pockets of those who happen for the
moment to have voice in granting the
franchise Yet as matter of fact, the blood
money" referred to never does get into the
states exchequer 1t goes only to swell certain
private revenues,
Apart, however, from the corrupting in.
fluences which attach to the granting OF
special charters, can any one suggest reason
why the power or privilege Demonstrating and
owning these great highways should not be
thrown open TO all comers? Why should not
persons be as freely permitted to associate
themselves together for the purpose OF build
ing railroad as forpublishing a newspaper or
engaging in any other honest industrial pur-
suitP
In the case of railway corporations l am
aware that the state delegates Its sovereign
power OF eminent domain. This Is, indeed, a
valuable and an essential privilege. The rail-.
mi llgf mi N tQn a M
occupy whatsoever land is needed for It's con-
struCtiOn and maintenance But II Is also
true that no harm ever comes TO the public or
any one individual from the exercise OF this
right Whenever the railroad company Is re.
quired to pay the property-holder whose land
II takes the compensation Is almost invariably
largely beyond the value OF the land taken.
In a word, no one has ever been known to be
damaged In pocket by the railroad which
trayersed his property, while by this invasion
of their property rights multitudes have been
lited from poverty to opuence.
But started to say that II was by removing
all barriers to the ready organization OF rail-
road companies by establishing a system In
which the frcest competition is possible that
the, states OF the north ana west have
every mile of railroad constructed there IL
added TO the taxable values OF property within
the belt which this new avenue supplies and
chains from $50 600 to SO, 900. Thus railroad
100 miles in length will augment the list from
So 900 600 to ST. 900, 900, or would give an annual
revenue to the state and counties from this
source alone, where l6 mills are the tax, as iu
Virginia, of from 1000 toSl20,0OO. II Is not
necessary in these days TO dilate upon the
other nnmberless benefits which these great
highways bring to a people. Like the people
OF Maryland, the yeomanTy OF the Old pomln
ion have grown into a very thorough knowl
edge of the subject within the last few years
but II remains for them to vigilantly see to u
aud demand that their law making body shall
carry into practical effect their views and
wishes, instead of being suffered TO subordinate
them TO petty, personal unworthy ends,
VIRGINIAS,